Allstate pricing notes in 10-, 30-year tranches on Tuesday

By Andrea Heisinger

New York, June 4 - Allstate Corp. is expected to price notes (A3/A-/) in two parts in Tuesday's market, according to a 424B5 filing with the Securities and Exchange Commission.

The offering includes maturities of 2023 and 2043.

Bookrunners for the 10-year notes are Deutsche Bank Securities Inc., Goldman Sachs & Co., Wells Fargo Securities LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC.

Those for the 30-year bonds are Barclays, Deutsche Bank, Goldman Sachs, J.P. Morgan Securities LLC, Credit Suisse and U.S. Bancorp Investments Inc.

Proceeds, along with cash on hand, will be used to fund concurrent tender offers and for general corporate purposes.

Allstate last tapped the U.S. bond market in a $500 million sale of 5.2% 30-year bonds priced at 225 basis points over Treasuries on Jan. 9, 2012.

The holding company for insurance subsidiaries is based in Northbrook, Ill.

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